Greece Talks Enter ‘Final Phase’ on 2nd Bailout
ISM Services Gauge in U.S. Rises to 56.8
Unemployment Drops to 8.3%; Payrolls in U.S. Jump 243,000
Treasury 10-Year Yield Rises Most Since November as Jobs Exceed Forecast
Italian Bonds Tumble As Greece Talks Drag On; Bunds Decline on U.S. Jobs
Oil Rises for First Time in Six Days as U.S. Unemployment Rate Declines
S&P 500 Gains 1.4%, Rallies for Fifth Week
"One of the lessons that investors seem to have to learn over and over again, and will again in the future, is that not only can you not turn a toad into a prince by kissing it, but you cannot turn a toad into a prince by repackaging it. But very imaginative people in the securities market try to do that. If you have bad mortgages they do not come better by repackaging them. To some extent the chickens are coming home to roost for the mortgage originators and securitisers."
Warren Buffett, Financial Times, October 26, 2007
by Doug Noland | Feb 3
Speculative excess has gained the upper hand.
by Martin Hutchinson | Jan 30
They Don’t Make Companies Like They Used To
The greatly increased corporate mortality has now been internalized in management practice.
Read moreby Satyajit Das | Jan 18
Britain rejected the Treaty changes, refusing the invitation to join the Europeans on the maiden voyage of the Titanic.
Read moreby Michael Pento | Jan 5
Math Vindicates S&P Debt Downgrade
Their rating of U.S. debt is still too high and the downgrade came way too late.
Read more|
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